National Grid has signed a 25-year contract with Qatar Terminal Limited (QTL) to provide storage and redelivery capacity at its Grain Liquefied Natural Gas (LNG) terminal.
Grain LNG, located on the Isle of Grain in Kent, is the largest terminal in Europe and the eighth largest in the world by tank capacity, with a site that spans more than 600 acres in total.
It currently has the capacity to store and deliver enough gas to meet at least 25 percent of the UK’s demand.
The agreement marks the conclusion of Grain LNG’s competitive ‘Open Season’ process, which started in November 2019.
National Grid said the UK has recently benefitted from a rise in LNG imports, which have contributed to lower wholesale gas prices by increasing ‘gas-on-gas’ competition.
Jon Butterworth, managing director of National Grid Ventures added: “Today is an important day for UK gas security, for Grain LNG and for the community around the Isle of Grain. LNG imports play a critical role in making sure the UK has the gas it needs, when it needs it.”
For more information visit grainlng.com